September 16

Analysis: How the Cloud Is Helping Drive Financial Inclusion in India

By Sheela Nambiar

Historically, large banks and financial institutions have helped bring more people into the formal banking ambit in India. But the pandemic further brought to the fore the need for greater digital integration and financial inclusion in our country. And so, the spotlight is now turning to India’s emerging BFSI institutions as they are expected to play an important role in achieving the financial inclusion vision. Regional rural banks, urban and rural cooperative banks and cooperative credit institutions are expected to shoulder the load especially in territories and sectors that are under-served by the large BFSI players.

Photo courtesy of Priscilla Du Preez.

Source: ET CIO (link opens in a new window)

Finance, Technology
financial inclusion, fintech, rural development